NCP mobilizes against sale of public assets

As part of Nigeria’s 56th Independence anniversary celebration and the party’s 22nd anniversary, National Conscience Party (NCP) mobilized its members against the sale of public assets and for a better Nigeria.

National Chairman of the Party, Dr. Yunusa S. Tanko, who addressed a press conference at Jabita Hotel, Ikeja, Lagos, yesterday, said: “Though Nigeria is celebrating 56th year, every one thought that there should be celebration in the nooks and crannies of the country, but the reverse is the case.”

He said the masses are groaning in pain and penury, “while the government seems not to feel the pain of the people, adding that the government we give our trust and thinking that it will liberate us and deliver unto us our long anticipated change has successfully betrayed us.”

Tanko said: “NCP, being the oldest political party in the history of Nigeria was founded on the street of struggle during the Military regime in 1994 by Chief Gani Fawehinmi. As the father to all political parties, we are making an urgent and desperate clarion call to all and sundry to join in the mass movement against the impending sale of our public assets by the deceitful Buhari-APC regime.

“This is nothing, but a crude and highly corrupt attempt to handover our collective wealth to few rich individuals and their foreign partners, who got rich from looting our public treasury and now want to mortgage the entire future of the coming generation.”

The NCP chairman declared that “we can not be deceived again by the conflicting and deceitful statements coming from this regime,” adding that their body language is clearly towards selling off our public assets to themselves.

Tanko added: “They are making this reactionary move under the guise of paying highly fictitious debts. Hence we need to brace up and take up to action and say, no to sale of public assets.”

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Basil Ogbanufe

The sale should be to all Nigerians through the NSE (Nigeria Stock Exchange) by way of IPO (initial public offer), so all Nigerians will benefit and participate.

barBeachBoy

That was how the indiginization decree went; Igbos were a year or two removed from a standing start with £20 in the pocket of each Igbo family as was designated by the three “R”‘s program when the indigenization program launched in the mid 70’s.

The real problem is that the so called assets are often anything but; a refinery operating under normal circumstances has an ~40 year shelf life, with the several changes that have occured in the availability of certain feedstocks, these facilities have seen their shelf lives reduced to as low as 10 years!

Every time you hear someone say TAM understand that what’s happening is a complete rebuild of the facility to process a different crude stock

Basil Ogbanufe

The only problem Nigeria has is mistrust. Governments over the years only work very hard to sustain the mistrust reason nothing works but corruption. No matter how low the shelf life once those companies become public quoted companies they work very well. They will become very productive and we all will benefit from them in the short and long terms.

Olovo Obinna

What’s your point…sell or not to…which do u stand for

Basil Ogbanufe

My position is, those national assets should be sold to us, Nigerians, through the NSE (Nigeria Stock Exchange) by way of IPO (initial public offer). Those national assets should become quoted companies on the NSE.

Olovo Obinna

I get u,,,,,,but this greedy politicians won’t let that happen

Basil Ogbanufe

Why?!

Olovo Obinna

Can’t u see what happen to previous national assets that was sold

Basil Ogbanufe

First bank Plc, Union bank Plc and UBA Plc were owned by government, IBB sold them to Nigerians through the NSE by way of IPO. NAHCO Plc was owned by government, OBJ sold it to Nigerians through the NSE by way of IPO.

If those national assets become public quoted companies we all will benefit, and they will do well due to transparency and accountability.

But if they are concessioned or sold to consortiums they will fail due to lack of transparency and accountability.

We should all be clamouring that those national assets should be sold to us through the NSE by way of IPO. By the way, if governments of Nigeria over the years managed those assets properly we won’t be in a recession, about to enter a depression, today. These national assets were looted and are still being looted by the government in power, politicians and their cronies in the private sector.

Government cannot continue being regulator and operator/manager of the economy at the same time. This is corruption and encouraging corruption. Government should focus solely on regulation and hands off management for Nigerians through the NSE by way of IPO.

Olovo Obinna

Interesting information

Basil Ogbanufe

…and what makes it “interesting information”? Were you not aware?

Olovo Obinna

Well,,,i was not aware….especially those banks u mentioned aside from FBN

Basil Ogbanufe

It is information that can be verified from the banks themselves.

Olovo Obinna

Correct bro

Bako

How can a gov’t after corrupt individuals be unable to manage the country’s assets and wants to cheat the people with this propaganda of sale or settlement of friends? Those who are advocating sale are possessed.